Paula Pulitzer and several associates formed Pull It Together Massage Therapy, Inc. on July $1,2024,$ as a corporation. During the first month of operations, the business completed the following transactions:

Jul $1$ Received $$500,000$ cash and issued $1,000$ shares of no$-$par common stock.

Jul $1$ Purchased a building, recently renovated to suit a massage therapy business, for $$300,000$ cash.

$2$ Purchased supplies, $$25,000,$ on account.

$3$ Hired ten Massage Therapists and two Receptionists.

$4$ Made a prepayment for $12$ months of insurance coverage, $$12,000.$

$5$ Received advance payment of $$5,000$ from customer who purchased $$100$ massages in advance.

$6$ Paid cash to purchase $$25,000$ of office furniture, and $$50,000$ of equipment.

$7$ Paid $$5,000$ cash for a computer consultant to build the business website. $($Record as an expense.$)$

$8$ Paid $$100$ monthly licensing fee for online client appointment booking app.

$14$ Family and Friends of Pulitzer hosted a Grand Opening Party at the new business location.

$31$ From $1/15-1/31$ the business serviced customers who paid cash, $$40,000.$

$31$ Paid employees $20,000$ for wages earned for the first two weeks of business.

$31$ Received $$3,000$ advertising bill related to tv$,$ radio, and social media ads running in July.

Required:

Journalize the transactions noted above.

Open T$-$accounts for the accounts affected by the transactions noted above.

Post the transactions to the T$-$accounts.

Calculate the balance of each account and label it "Bal."

Prepared the Trial Balance as of July $31,2024.$

Hint: Total Debits $=$$$573,000,$ Total Credits $=$$$573,000$

Required:

Based on the adjustment information listed below, journalize the adjusting entries below.

GO BACK TO THE ORIGINAL T$-$ACCOUNTS

Note: Consider completing #$2$ in a different pencil color.

Post the adjusting entries to the T$-$accounts.

Catculate the adjusted balance of each account and label it "BaL."

Prepared the Adjusted Trial Balance as of July $31,2024.$

Hint: Total Dablis $=$$$582,750,$ rotai Crectits $=$$$582,750$

a$.$ Remaining beauty supplies inventory equals $$15,000$ at Jul $31$

b$.$ One month of the prepaid insurance expired

c$.$ During Jul, the business provided $$1,000$ of services to customers who paid in advance on Jul $5.$

d$.$ During Jul, the business provided services to a wedding party, for which payment will be received in Feb, $$2,000.$

e$.$ The Building has a $25-$yr useful life and no salvage value. Record one$-$month's depreciation.

f$.$ The Furniture has a $5-$yr useful life and no salvage value. Record one$-$month's depreciation.

g$.$ The Equipment has a $5-yr$ useful life and no salvage value. Record one$-$month's depreciation.

h$.$ Unpaid wages for Jul $29-$ Jul $31$ amount to $$5,500$

THE SECOND PAGE IS INCLUDED IN THE SECOND PART AFTER THE FIRST PAGE

THEN PREPARE A POST CLOSING trial balance